ACCRUED EXPENSES June 30, FS TLKM Q2 2013 English

PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2013 UNAUDITED AND FOR SIX MONTHS PERIOD ENDED WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR SIX MONTHS PERIOD ENDED JUNE 30, 2012 UNAUDITED Figures in tables are presented in billions of Rupiah, unless otherwise stated 59

18. TWO-STEP LOANS continued

Since 2008, the Company has used all facilities under the two-step loans program and the drawdown period for the two-step loans has expired. The Company is required to maintain financial ratios as follows: a. Projected net revenue to projected debt service ratio should exceed 1.2:1 for the two-step loans originating from Asian Development Bank ADB . b. Internal financing earnings before depreciation and finance costs should exceed 20 compared to annual average capital expenditures for loans originating from ADB. As of June 30, 2013, the Company complied with the above mentioned ratios. Refer to Note 37 for details of related party transactions.

19. BONDS AND NOTES

June 30, 2013 December 31, 2012 Outstanding Outstanding Original Original currency Rupiah currency Rupiah Bonds and notes Currency in millions equivalent in millions equivalent Bonds Series A Rp - 1,005 - 1,005 Series B Rp - 1,995 - 1,995 Medium Term Notes MTN PT Finnet Indonesia Finnet Rp - - 8 - 8 Promissory Notes PT Huawei US 29 291 46 445 PT ZTE Indonesia ZTE US 16 155 22 216 Total 3,446 3,669 Current maturities Note 17a 335 440 Long-term portion Note 17b 3,111 3,229 a. Bonds Interest Interest Listed Issuance Maturity payment rate Bonds Principal Issuer on date date period per annum Series A 1,005 The Company IDX June 25, 2010 July 6, 2015 Quarterly 9.60 Series B 1,995 The Company IDX June 25, 2010 July 6, 2020 Quarterly 10.20 Total 3,000 The bonds are secured by all of the Company s assets, movable or non-movable, either existing or in the future Note 10c.x. The underwriters of the bonds are Bahana, PT Danareksa Sekuritas and PT Mandiri Sekuritas and the trustee is PT CIMB Niaga Tbk. The Company received the proceeds of the issuance of bonds on July 6, 2010.